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Topic: Expect the price to go lower (Read 3090 times)

jed
full member
Activity: 182
Merit: 107
Jed McCaleb
August 03, 2011, 03:41:45 PM
#27
Quote
Of course, if you buy BTC as a currency instead of a speculative vehicle none of this matters much. Instead of sell, sell, sell, try spending your bitcoin. It will help make a more robust economy and you may find some bargains right now priced in bitcoin.

Exactly!

Either you are actually using bitcoins and you don't care what the price is or you are speculating and then these crazy swings are just what you want.
legendary
Activity: 3066
Merit: 1147
The revolution will be monetized!
August 03, 2011, 03:12:23 PM
#26
Of course, if you buy BTC as a currency instead of a speculative vehicle none of this matters much. Instead of sell, sell, sell, try spending your bitcoin. It will help make a more robust economy and you may find some bargains right now priced in bitcoin.
legendary
Activity: 4760
Merit: 1283
August 03, 2011, 03:06:35 PM
#25
Someone's clearly panic selling today. I hope you all are snapping up the bargains!
i missed the train.

now i learned not to transfer funds to my bank account on the weekend.

You probably didn't miss anything, it will probably be under 8,70 dollars within a week if not faster.

Huh?  I just picked some up for less than that (unless the exchange unwinds their books.)  I'm holding out for $5-ish and it seems like a distinct possibility (but I'm still giving less than a 50% chance.)

I suspect that a lot of the liquidity originated in Poland or MBC.com.  I figure that the criminals needed to divvy things up amongst various operatives who have accounts on the exchanges.  I hoped that some of them may be none-to-shrewd and would blow the price down to much at times.  I wanted to capitalize if so...and kept some powder dry for this purpose.

Did I do the right thing and there will be a rally when this all blows over?  Or will BTC prove to have to much of a sting and everyone bails?  Or???  Time will tell.
full member
Activity: 224
Merit: 100
August 03, 2011, 02:30:23 PM
#24
Someone's clearly panic selling today. I hope you all are snapping up the bargains!
i missed the train.

now i learned not to transfer funds to my bank account on the weekend.

You probably didn't miss anything, it will probably be under 8,70 dollars within a week if not faster.
legendary
Activity: 1764
Merit: 1006
August 03, 2011, 02:25:14 PM
#23
Someone's clearly panic selling today. I hope you all are snapping up the bargains!
i missed the train.

now i learned not to transfer funds to my bank account on the weekend.
full member
Activity: 224
Merit: 100
August 03, 2011, 02:21:53 PM
#22
Someone's clearly panic selling today. I hope you all are snapping up the bargains!

Why is it a bargain?
hero member
Activity: 588
Merit: 500
August 03, 2011, 02:19:42 PM
#21
Someone's clearly panic selling today. I hope you all are snapping up the bargains!
full member
Activity: 182
Merit: 100
August 02, 2011, 11:58:01 PM
#20
Thing is if we drop to single digits especially mid-range single digits, I know me personally, will be snatching them up happily. I'm not sure how many people have the same mindset as me but I'm sure I'm not the only one. Will it be a good idea? Maybe, Maybe not. Though I also feel if we drop below 10 there will be a lot of panic selling.

Bingo, dropping this low is, to me, not a sign that this thing is anything I ought to put anymore money into.

hahhahah
legendary
Activity: 1512
Merit: 1000
@theshmadz
August 02, 2011, 11:16:09 PM
#19
preface: bitcoins are a revolutionary idea. One that I'm am very much supportive of. but...

the thing about bitcoins is that they rely on the internet. if you are bullish about the internet never having any sort of problem, then bitcoins look to be a somewhat bullish investment.

if you have any sort of worries about an "internet kill switch" or solar flares, or any other kind of disruption to the global network happening in the next few years, well then... you might want to start shorting bitcoins.


-- note -- I am staying somewhat invested in bitcoin as a hedge against the world maintaining the status quo. I am also invested in silver, gold, food staples, cold weather clothing and shelter, and farmland! (I mean like an actual farm, where I can stay and work, just in case Smiley

all this stuff going on right now is to risky to lay all your eggs in one basket. just my opinion.
full member
Activity: 182
Merit: 100
August 02, 2011, 11:12:28 PM
#18
Thing is if we drop to single digits especially mid-range single digits, I know me personally, will be snatching them up happily. I'm not sure how many people have the same mindset as me but I'm sure I'm not the only one. Will it be a good idea? Maybe, Maybe not. Though I also feel if we drop below 10 there will be a lot of panic selling.

Bingo, dropping this low is, to me, not a sign that this thing is anything I ought to put anymore money into.

Wow never heard you say anything like that before.  Roll Eyes
legendary
Activity: 2198
Merit: 1311
August 02, 2011, 10:52:45 PM
#17
I was too happy today because I got my first bitcoins  and now reading this thread you make me get worried  Sad
The price was once at $30 it will go back up. I have never bought any bitcoins. I made them all of my sites and logo making Smiley

No, it might go back up, but very likely won't for a very long time, if at all.  Do you not see how much money it would take just to move the price back up to $13.80?  Over $600,000!  It would take millions to take it back up to $30 and millions of dollars are simply not entering the market.  I stand by the prediction I've been repeating for quite some time now...we will not get back over $20 this year.  Maybe, maybe, sometime next year.
Zem
member
Activity: 70
Merit: 10
August 02, 2011, 10:51:58 PM
#16
I believe long term we'll be fine. But short term for the moment is sketchy.  People in it to make a quick buck are probably going to panic and sell everything at some time in the near future.
sr. member
Activity: 280
Merit: 250
August 02, 2011, 10:42:58 PM
#15
I was too happy today because I got my first bitcoins  and now reading this thread you make me get worried  Sad
The price was once at $30 it will go back up. I have never bought any bitcoins. I made them all of my sites and logo making Smiley
legendary
Activity: 1764
Merit: 1015
August 02, 2011, 10:39:22 PM
#14
I was too happy today because I got my first bitcoins  and now reading this thread you make me get worried  Sad
Don't listen to them lol... If you sell you play into their games and THEY WIN.  Grin
member
Activity: 70
Merit: 10
Only a curious passer-by / FirstBits: 13zsc1
August 02, 2011, 10:37:09 PM
#13
I was too happy today because I got my first bitcoins  and now reading this thread you make me get worried  Sad
Zem
member
Activity: 70
Merit: 10
August 02, 2011, 10:17:44 PM
#12
I picked up most of my coins at 3ish usd. So I'm not too worried yet. But people that bought in at huge prices....Well, good luck to you guys  Grin
legendary
Activity: 2198
Merit: 1311
August 02, 2011, 10:12:11 PM
#11
Thing is if we drop to single digits especially mid-range single digits, I know me personally, will be snatching them up happily. I'm not sure how many people have the same mindset as me but I'm sure I'm not the only one. Will it be a good idea? Maybe, Maybe not. Though I also feel if we drop below 10 there will be a lot of panic selling.

Bingo, dropping this low is, to me, not a sign that this thing is anything I ought to put anymore money into.
Zem
member
Activity: 70
Merit: 10
August 02, 2011, 10:06:59 PM
#10
Thing is if we drop to single digits especially mid-range single digits, I know me personally, will be snatching them up happily. I'm not sure how many people have the same mindset as me but I'm sure I'm not the only one. Will it be a good idea? Maybe, Maybe not. Though I also feel if we drop below 10 there will be a lot of panic selling.
legendary
Activity: 1092
Merit: 1001
August 02, 2011, 09:38:16 PM
#9
You've already missed the bottom. It's only going up from here! Now's the time to buy

For once I actually agree with you. Cheesy

The market depth on the bid side still seems so weak.
I guess I'm still confident of some rises over the medium term once interest picks up in places like China and Korea.. but I've no idea what is a likely low point in the mean time.  $5 sounds just as plausible as $11 to me. 
hero member
Activity: 588
Merit: 500
August 02, 2011, 09:23:06 PM
#8
You've already missed the bottom. It's only going up from here! Now's the time to buy

For once I actually agree with you. Cheesy
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